Wu, Keyu; Fehr, Ernst; Hofland, Sean; Schonger, Martin - 2024
ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between … attitudes towards ambiguity and compound risk which suggests that compound risk aversion may provide a psychological foundation … for ambiguity aversion. However, compound risk aversion and ambiguity aversion may also be independent psychological …